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Development Partners International (DPI), a UK-based private equity firm that invests in Africa, has raised $900m to invest in companies on the continent.

The firm exceeded its initial target of raising $800m for its African Development Partners III Fund (ADP III) by $100m and also secured an additional $250m of capital from co-investors who will invest alongside this, its third Africa-focused fund, taking the total firepower of the ADP III to $1.15bn. DPI’s capital base across all three of its Africa-focused investment funds, including money committed by co-investors, totals $2.8bn...

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